What Documents Do You Need to File Your Taxes?

1. PERSONAL INFORMATION

Legal Information – This includes social security numbers (or tax ID numbers) and dates of birth for yourself, your spouse and any household dependents.

A Copy of Last Year’s Tax Return

2. INCOME INFORMATION

Personal Income Statements — You should have a W-2 Form for each job held over the previous year by you, your spouse or any dependents. If you are self-employed, you will need all financial records pertaining to your business. In this scenario, we recommend finding a professional tax advisor.

Unemployment Income

Investment or Interest Income — This includes money that financial institutions pay you for savings accounts, certificates of deposit, treasury bounds, or interest-yielding checking accounts.

Retirement Plan Income — This includes money you collected from pensions, annuities and individual retirement accounts.

Business/Farming Income — You’ll want to include a profit/loss statement, and any capital equipment purchases.

Social Security/Medicare Benefits

Income from Sale of a Home or Property

Trust and Estate Beneficiary Earnings

State or Local Tax Refunds — This would be tax refund money you received in the last calendar year, from your previous tax filing period (in this case, anything you received from Tax Year 2016).

3. POSSIBLE CREDITS & DEDUCTIONS

Homeowner Expenses — This includes mortgage interest and any private mortgage insurance (PMI) you paid, real estate taxes, energy-efficient home improvements (save your receipts!) or moving expenses. If you just bought a home this year, you might also qualify for various homebuyer tax credits.

Education Expenses — This includes any post-high school tuition or any student loan interest that you paid.

Child & Dependent Care Expenses — You’ll need a statement with your provider’s name, address, tax ID (SSN) and amount paid to watch one of your dependents. Also, if you adopted a child this year include any records of legal, medical and transportation costs.

Health Care Expenses — These include receipts for any medical and dental expenses. Also, you’ll want to gather your proof of health insurance.

Charitable Contributions — Put together a detailed list of donations and receipts for any charitable contributions you made, including any donated automobiles or property. Also include out-of-pocket expenses used for the benefit of charities.

Alimony Paid — You’ll need to include your ex-spouse’s name and social security number.

Casualty & Theft Losses

Job Search & Job Education Expenses

Classroom Expenses (for Teachers) — If you are a teacher, include receipts for any expenses paid for classroom supplies.

Tax Payments — Include receipts for all local and state taxes paid during the previous year. If you own a vehicle, include receipts of your vehicle license fees, and a statement of the estimated value of your vehicle.

IMPORTANT NOTE: This article is for information purposes only, and Security National Bank is not a tax adviser company. There may be additional guidelines and information, regarding your personal tax situation, not included in this article. For more information, you should always contact your tax adviser or visit the IRS website.